State of Alaska Department of Revenue Has $2.14 Million Holdings in Coterra Energy Inc. (NYSE:CTRA)

State of Alaska Department of Revenue reduced its position in Coterra Energy Inc. (NYSE:CTRA) by 43.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 83,982 shares of the company’s stock after selling 65,435 shares during the quarter. State of Alaska Department of Revenue’s holdings in Coterra Energy were worth $2,144,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. City State Bank acquired a new position in Coterra Energy in the 4th quarter worth about $26,000. AdvisorNet Financial Inc increased its position in Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after purchasing an additional 744 shares during the last quarter. MCF Advisors LLC increased its holdings in shares of Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd acquired a new position in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Values First Advisors Inc. acquired a new position in shares of Coterra Energy during the 3rd quarter valued at about $57,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

CTRA has been the topic of a number of analyst reports. Mizuho increased their price objective on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Morgan Stanley increased their price objective on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Barclays increased their price objective on Coterra Energy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, Raymond James increased their price objective on Coterra Energy from $35.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $33.11.

Coterra Energy Price Performance

Shares of CTRA stock opened at $28.44 on Tuesday. The stock has a 50 day moving average of $26.64 and a two-hundred day moving average of $25.17. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. Coterra Energy Inc. has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a market capitalization of $20.95 billion, a P/E ratio of 17.13, a P/E/G ratio of 0.56 and a beta of 0.26.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company’s properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.